• XRP’s market cap has doubled in the last few months.
• The doubling has made it the third-largest asset behind Ethereum.

The cryptocurrency market has been buzzing with Ripple’s[XRP] remarkable rally, which has pushed its market capitalization closer to Ethereum’s[ETH].

With XRP’s price crossing $2.30 and its market cap reaching $206.9 billion, discussions about XRP potentially flipping ETH are gaining traction.

XRP’s rise in numbers

According to the coin’s market cap chart, XRP’s recent surge has been phenomenal. The asset has gained significant momentum since late 2024, with its price nearly tripling over the last quarter.

Its market cap skyrocketed to $206.9 billion, positioning it as a strong contender to dethrone ETH. Technical indicators like RSI remain bullish, showing a value of 58.83, indicating room for further upward momentum without entering overbought territory.

Source: CryptoQuant

The 50-day moving average has decisively crossed the 200-day average, forming a golden cross—a strong signal of sustained bullish trends.

ETH: A giant in the crosshairs

Ethereum, however, continues to maintain a comfortable lead with a market cap of $440.5 billion, as reflected in the Ethereum market cap chart.

The second-largest cryptocurrency by market cap is trading at $3,671, supported by a well-established ecosystem that includes DeFi and NFTs.

The chart highlights consistent upward movement since November 2024, with its RSI sitting at 57.82, suggesting steady buying momentum.

Source: CryptoQuant

While ETH’s dominance remains intact, XRP’s accelerated growth has brought the gap closer than it has been in years.

Comparing technicals: XRP vs. ETH

A side-by-side analysis of XRP/USD and ETH/USD charts shows diverging trajectories. XRP’s recent rally is supported by strong volume, exceeding 20.44 million trades.

In contrast, Ethereum’s volume stands at 17.6k trades, highlighting XRP’s current market excitement. Both assets demonstrate bullish patterns but XRP’s golden cross signals higher upward potential compared to Ethereum’s moderate rally.

Source: TradingView

While Ethereum enjoys strong support near the $3,500 mark, XRP has broken past its psychological resistance at $2.00, which could serve as a new support level for the asset.

Source: TradingView

ETH to flip XRP?

Despite XRP’s meteoric rise, surpassing ETH in market capitalization will require substantial growth of 112.9%. For this to happen, XRP’s price would need to climb from its current level of $2.30 to approximately $4.90.

While ambitious, it’s not entirely out of reach given XRP’s momentum, supported by legal clarity, partnerships, and institutional interest.

– Realistic or not, here’s XRP market cap in BTC’s terms

However, Ethereum’s strong developer ecosystem, established use cases, and wider adoption still pose significant challenges to XRP’s bid to overtake it.